Lansdowne/Boca Raton Private Wealth Management, an investment advisory firm with more than $500 million in asset under management, resigned from AXA Equitable after five years to join Cambridge Investment Research, a Fairfield, Iowa-based independent, privately owned broker-dealer.
“The vision of Cambridge and its founder Eric Schwartz mirrors ours,” says Robert O’Braitis, Lansdowne's founder, president, and chief investment strategist. “They are advisor focused and Schwarz is determined to keep Cambridge independent and private into perpetuity, which is refreshing given the recent merger wave.”
According to O’Braitis, his firm offers a one-stop “shopping center” of sorts with its in-house life and annuity department, CPA’s, trust services, attorneys, and a branch that can assist with property-casualty insurance.
The company's main offices are in Lansdowne, Va., and Boca Raton, Fla. O’Braitis says he spends most of his time in the Lansdowne, Va., office and flies to Boca Raton about once a month. Jason Pitts is managing partner of the Lansdowne office and Kristina Sommerkamp is managing partner of the Boca Raton office.
Lansdowne also has offices in New Orleans and Orange, Va. Andrew Galy is managing partner in New Orleans, and Rick Aldridge is managing partner in Orange.
Lansdowne doesn’t have a stated minimum asset level for clients, but O’Braitis says the average household has about $1 million in assets. He expects all of his clients to move over to Cambridge, and anticipates additional business from commitments ready to jump aboard once the transition is complete.
“We are excited about Cambridge’s open architectural platform that will not only help service our clients, but will allow our firm grow,” O’Braitis says.